Management projected the decline will be in the 4 percent to 6 percent for the three months ending in September.
"While the economic recovery hasn't been robust or smooth, we believe it is beginning to spread across the markets we serve," McClatchy CEO Gary Pruitt said. Investors seemed disheartened as
McClatchy shares dipped 15 cents, or 4 percent, to close Thursday at $3.57. The improving ad trends have been mirrored in the second quarter reports and outlooks of several other major newspaper publishers, including Gannett Co., The New York Times Co and Lee Enterprises Inc.
McClatchy and its peers have been stuck in a financial funk since the end of 2006 as changing readership habits and the worst recession since World War II have caused more marketing dollars to flow to less expensive alternatives on the Internet.
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Management projected the decline will be in the 4 percent to 6 percent for the three months ending in September. <span class="sent">"While the economic recovery hasn't been robust or smooth, we believe it is beginning to spread across the markets we serve," <span class="company">McClatchy</span> CEO <span class="analyst">Gary Pruitt</span> said.</span> Investors seemed disheartened as <span class="company">McClatchy</span> shares dipped 15 cents, or 4 percent, to close Thursday at $3.57. The improving ad trends have been mirrored in the second quarter reports and outlooks of several other major newspaper publishers, including Gannett Co., The New York Times Co and Lee Enterprises Inc. <span class="company">McClatchy</span> and its peers have been stuck in a financial funk since the end of 2006 as changing readership habits and the worst recession since World War II have caused more marketing dollars to flow to less expensive alternatives on the Internet.
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